Tesla Posts Record Q2 Sales.
Tesla has surpassed Wall Street estimates amid price cuts and newly-implemented EV tax credits, TechCrunch reports.
In Q2 2023, Tesla produced a record amount of 479,000 vehicles with a record delivery of 466,140.
That's 10% more than Tesla delivered in Q1 and 83% more year-over-year, TechCrunch reports.
460,211 Model 3 and Y vehicles were delivered, while only 19,489 of the more expensive Model S and X vehicles were delivered.
According to the China Passenger Car Association, nearly half of those deliveries were likely provided by the company's Shanghai gigafactory.
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In addition to Tesla's other vehicles, the Model 3 is now eligible for the entire $7,500 federal tax credit.
The company's strategy to cut prices is seemingly helping to boost sales as well.
However, in Q1, the price cuts resulted in a 24% net income decrease year-over-year.
Tesla will reveal Q2 earnings on July 19
